SME Partnership (SMEP) was set up in September 2001 to make equity and quasi-equity investments in small and medium enterprises (SMEs) sector of the Nigerian economy. SMEP is targeted at funds available from local banks for the Small and Medium Industries Equity Investment Scheme (SMEIS), and is designated to only fund equity investments in SMEs that qualify for investments under the SMEIS.
SME II Partnership (SMEP II) was set up in September 2003 as a following on fund to SMEP to accommodate local institutions who were unable to commit to SMEP prior to its closure. SMEP II has a similar structure to SMEP and both funds co-invest in all SMEP opportunities.